The Dow Jones Industrial rose 0.18 percent to 34,563.30 points and is increasingly approaching the hurdle of 35,000 points, which it had overcome for the first and so far last time in May. The technology-heavy Nasdaq indices were almost unchanged. The Nasdaq 100 selection index fell 0.08 percent to 14,543.12 points.
“The US benchmark index remains on the north course and still has some room for improvement before it is technically overheated again,” said Andreas Büchler of Index-Radar on the development since mid-June. Although he remains cautious as to whether the Dow will manage to reach a new peak again soon, he is rather optimistic.
The economic data could still be a support for the stock markets, but on this day they were a bit mixed. The fact that the weekly initial applications for job aid fell significantly and that the mood in the US industry in June was “very good” and indicated “sustained strong growth” according to Helaba, despite the noted year-on-year decline, should have been positive. At the same time, however, construction spending surprisingly fell in May, contrary to expectations. The official June labor market report on Friday, which plays an important role in the monetary policy of the US Federal Reserve (Fed), is now awaiting with tension.
Among the individual stocks, the shares of Walgreens fell in the Dow as the bottom by 6.6 percent. The drugstore and pharmacy chain presented business figures and set a higher profit target for the year as a whole. However, some analysts reacted disappointed and cautious. Credit Suisse, for example, expressed skepticism about long-term growth.
The same thing happened with the Micron papers. Despite better-than-expected numbers for the third fiscal quarter and an updated outlook, they slumped by almost 5 percent on the Nasdaq. Analysts are now questioning whether demand will gradually decline again.
Also in view was the newcomer Didi, whose shares now rose by 12.3 percent to $ 15.89. The shares of the Chinese Uber rival, which were issued at a price of 14 dollars, had temporarily shot up to 18 dollars the day before, before the subscription profits melted almost completely by the end of trading. Uber recently gained 1.4 percent and its smaller competitor Lyft gained 3.1 percent.
Jazz Pharma benefited with a plus of 2.3 percent from the US approval for the cancer drug Rylaze. It should now be available for patients with acute lymphoblastic leukemia as early as mid-July.
Oil stocks were also in demand: Chevron rose 1.4 percent and ConocoPhillips rose 3.1 percent. The representatives of the Opec + oil network are currently talking about further funding policy. Before the negotiations, analysts estimated that the oil alliance should increase its daily production, but less than the market needs. This drives up oil prices accordingly./ck/men
(AWP)
–
